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Jaime Westenbarger Formerly With Securities America, Inc. Has 10 Customer Complaints For Alleged Broker Misconduct

Who is Jaime Westenbarger formerly with Securities America, Inc.?

Jaime Westenbarger (CRD 4625703) who was formerly registered with Securities America, Inc. and located in Grand Rapids, Michigan, is a subject of one of our many securities industry sales practice abuse investigations.  Prior to Securities America, Inc., Jaime Westenbarger was associated with other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.

Jaime Westenbarger has had his own share of regulatory problems. In April 2021 he was permanently barred from the securities industry by the SEC after it found that he took $200,000 from to investors in Michigan the purchase short-term CD investments but instead use the funds for his personal expenses.

Jaime Westenbarger Customer Complaints

Jaime Westenbarger has been the subject of 10 customer complaints that we know about to recover investment losses. Seven of the customer complaints were settled in favor of investors. Three of the customer complaints were denied his former employer’s and it appears the customers took no further action.

Allegations Against Jaime Westenbarger

A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:

  • Misrepresentation in connection with annuity purchases.
  • Unsuitable recommendation of variable annuity due to the illiquidity of product.
  • Unsuitable recommendation of REIT investments.
  • Unsuitable recommendation of alternative investments.
  • Violations of rules, negligence, misrepresentations and breach of fiduciary duty related to REIT investments.
  • Common law conversion, statutory conversion, fraud, violations of FINRA Rule 3240, negligence, breach of fiduciary duty, and violations of Michigan Uniform Securities Act.

Jaime Westenbarger Red Flags & Your Rights As An Investor

Of course, Jaime Westenbarger did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Jaime Westenbarger at Securities America, Inc. on alert to review carefully the activity and performance of their accounts and question whether Jaime Westenbarger has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Securities America, Inc. also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

File A Claim To Recover Your Investment Losses At Securities America, Inc. Due To Jaime Westenbarger

If you have questions about Securities America, Inc. and/or Jaime Westenbarger and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

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Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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